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Finance Ministry proposes increase of VAT for restaurant business back to 20%

The VAT rate for restaurateurs to become 20% again is one of the measures in the tax laws proposed by the Ministry of Finance . During the Covid epidemic, the tax rate for the industry was reduced to 9%. According to Minister Asen Vasilev, its..

26.09.23 15:10 |
Bulgaria's Minister of Finance Assen Vassilev

Business suffers severe damage from Bulgaria's delayed membership in the Eurozone and Schengen

''The loss from Bulgaria's delayed membership in the Eurozone and Schengen is between 4% and 5% of the country's GDP'', Bulgaria’s Minister of Finance Assen Vassilev said in an interview for Nova TV. ''The business loses between EUR 250 million and..

25.09.23 10:43 |

Autumn session of Bulgarian Parliament begins with expectations for quality legislative activity, but also for resignation of the cabinet

Before the start of the autumn session of the Bulgarian Parliament, Prime Minister Nikolay Denkov stated that the most important task before the deputies is the preparation of the state budget , as all policies for next year depend on it. The Prime..

01.09.23 10:39 |

Bulgaria finally has a “sensible budget” for 2023

After a mammoth 20-hour sitting, the Bulgarian MPs finally adopted the state budget for the year. It is calculated with a deficit of 3% - on an accrual basis, and preserves a large part of the initial capital programme. The budget is expected to be..

28.07.23 13:27 |
PM Nikolay Denkov

The ruling parties will support revenues in 2023 budget

The Parliamentary Committee on Budget and Finance made some wrong decisions that did not ensure the financial framework of the budget. I have the assurance of the leaders of the parties supporting the cabinet that they will correct the decisions, Prime..

26.07.23 11:15 |

Budget deficit of 3% for 2023 is achievable

It is achievable to keep to a deficit of 3 percent, Petar Ganev, senior researcher at the Institute for Market Economy has told BNR. "We don't have pitfalls in the budget that are insurmountable. With a strict position of the finance..

25.07.23 11:53 |

Budget 2023 puts state-funded institutions on the brink of survival

Against the backdrop of the July heat, the heated arguments about the 2023 budget continue. By July 25, when the National Assembly must finally vote on the state's financial framework, a decision must be reached on the increase of income in the budget..

17.07.23 14:40 |

Minister of Finance Assen Vassilev: The general budget framework shall not be altered

The general budget framework shall not be altered. If someone wants more spending for a given purpose, they have to propose cuts on spending for other purposes", Bulgaria’s Minister of Finance Assen Vassilev said after a meeting with MPs from GERB-SDS...

12.07.23 12:19 |
Marietta Georgieva

An extra EUR 500,000 in the budget for Bulgarian Sunday schools abroad

The Parliamentary Committee on Policies for Bulgarians Abroad approved at first reading the budget for Bulgarian communities abroad. The financial framework, presented by the Council of Ministers on 5 July, provides for an increase of about BGN 1..

11.07.23 17:13 |

Civil servants gear up for protests, demand pay rise

Employees in various government administration units are gearing up for protests in the coming week , demanding a pay rise in the 2023 budget. Social tensions are brewing at the National Social Security Institute, the Commission for Consumer Protection,..

09.07.23 17:49 |
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